Celebrating Asian American & Pacific Islander American Heritage Month
The contribution of minority business owners to the U.S.
Established in 1992, Asian American & Pacific Islander Heritage Month is celebrated every May and is a time to recognize the generations of Asian and Pacific Islanders who have shaped America’s history, culture, and achievements.
Asian American and Pacific Islander Business Owners
Asian Americans and Pacific Islanders (AAPI) are the fastest-growing racial group in the United States according to the U.S. Census. Comprised of over 40 different ethnic subgroups, the AAPI population is expected to more than double from 20 million to more than 51 million by 2060. Moreover, Asian-owned businesses make up 10 percent of all businesses in the United States and there are more than 5,100 Native Hawaiian and other Pacific Islander-owned businesses in the U.S.
Private business ownership in minority communities, in general, is on the rise, and franchises are a significant path for aspiring minority business owners. While on the rise, minority business ownership is not proportionate to the overall population. The good news, however, is that the number of minority franchise owners is, with nearly 30% of franchises owned by minorities.
Franchising As a Path to Business Ownership
Even more promising is the fact that each year, more than 50% of new businesses are started by minority owners. It’s important to be mindful of the fact that for many minority entrepreneurs in the making, there is less access to business and loans and the capital needs to fund a new business. Franchise ownership, however, is among the best pathways toward leveling the playing field for minority entrepreneurs.
Why Caring Transitions?
Providing older adults and their families with trusted and comprehensive downsizing, right-sizing, estate sales, online auctions, and move management solutions, Caring Transitions franchise owners truly walk beside their clients and their families every step of the way. Similarly, as a franchisor, Caring Transitions provides each of its franchise owners with the support and resources necessary for success from the very beginning and throughout the life of the business.
With low start-up and operational costs, Caring Transitions offers franchise owners national brand power, multiple revenue streams, and turnkey marketing campaigns. In fact, your success as a franchise owner is so important to the company that you can earn your entire franchise fee back upon meeting certain milestones through the Winner’s Circle program. With the Winner’s Circle, you can have your entire franchise fee refunded to you by meeting certain revenue goals and other benchmarks. Truly, when you succeed, we succeed.
Owning a Caring Transitions franchise has never been easier. We make the Steps to Ownership simple and straightforward so that you are comfortable making the right decision for your future.